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Daily Cable Analysis

  • #41
  • Jan 4, 2007 1:06am Jan 4, 2007 1:06am
Monarch, This looks like a great Thread and can be very very helpful as long as everyone stays within the Thread. Thanks for making it and good to see you back. We can only read the imput but it is up to us to either make the trade or not .........
  • #42
  • Jan 4, 2007 1:06am Jan 4, 2007 1:06am
I have seen occasionally such as tonight where the Low hits before the Frankfurt open, and by the time London Opens there is not much increase.

Last night was like that Low was 1.9703 on Franfurt - but it did go up to 1.9725 area before dropping for its sharp Short.

I missed the upwards by a few pips, but my bottom target hit perfect.

If tonight holds out with the Low at 1.9487, I would wait for the top to turn down on the 5 Minute candles, then when it closes under the 1.9487 line without body and wick touching I would go Short there.

That is how I did it last night, I did allow 5 pips more on the entry for clarity in direction.
  • #43
  • Jan 4, 2007 1:09am Jan 4, 2007 1:09am
How high do you think it might go from the previous low? 9530?
trading on demo is not trading
  • #44
  • Jan 4, 2007 1:12am Jan 4, 2007 1:12am
Quoting dobbie11
Monarch, This looks like a great Thread and can be very very helpful as long as everyone stays within the Thread. Thanks for making it and good to see you back. We can only read the imput but it is up to us to either make the trade or not .........
I told everyone at the beginning of this thread that whatever strategy I profess, I have real money on it.

This cost me a lot of money in determining strategy guidelines.

Tonight I have 2 lots entered in around the price we are at now going Long with no stop on them. I am looking 1.9530 which has been reached already a while ago. I will not pull the plug if price indicates Long with candle recognition as my support.

My realistic goal is to get some pips up, dump Long, wait for Short Entry.
  • #45
  • Jan 4, 2007 1:15am Jan 4, 2007 1:15am
Quoting enzo2325
How high do you think it might go from the previous low? 9530?
My Target for Long is actually around 1.9478, which I went off a 38.2 % Fibo on the movement down yesterday.

I will re-evaluate this once the London Open shows its hand.

Different Strategy with different indicators for the retracement position.
  • #46
  • Jan 4, 2007 1:16am Jan 4, 2007 1:16am
1.9578 not 1.9478
  • #47
  • Jan 4, 2007 1:20am Jan 4, 2007 1:20am
Quoting REPApips
Hi Monarch. I doubt that I can contribute anything of value yet having only started in forex less than 2 months ago. But thank you for creating this thread. I have learned so much from you and the other experts here and hope to continue doing so and hopefully eventually be able to participate more rather than just watch.
I understand, please feel free to ask questions, there are other qualified individuals on this thread also that could answer if I can't.

Glad to have you.
  • #48
  • Jan 4, 2007 1:22am Jan 4, 2007 1:22am
hmm another cable thread.way to go.
  • #49
  • Jan 4, 2007 1:24am Jan 4, 2007 1:24am
So far the Low at 1.9487 is setting the key point for Short Entry, we are 1/2 hour or so from London Open.

I will switch to a 5 Minute Chart then, so I can read the Candle formation quicker.

I know your thinking, what If I enter a Short when it jumps up 10 more pips here in a little while, well you could, but I have seen the jump go up, and never go back down.

We must get a little here, and a little there, watch price action on the 5 minute, and "Be Patient."

Patience, and give some room for your trade to breath. Watch and listen to the Candle (or Bar Pin) talk to you.
  • #50
  • Jan 4, 2007 1:25am Jan 4, 2007 1:25am
Quoting parlenk
hmm another cable thread.way to go.
Glad to see ya, yea, another stinkin thread for Cable.

When will we ever learn. LOL
  • #51
  • Jan 4, 2007 1:35am Jan 4, 2007 1:35am
With the scenario of the Low being reached before the Frankfurt open, I would have not entered a Long position normally.

I would be waiting for a Short after London Opens at the 1.9487 mark on 5 minute candle closed below line with no body/wick touching price.

If price shoots up and never goes into a Sell Position, I would not trade the Long here.

Just my thoughts for 1 trade strategy.

Remember you have many opportunities, do not jump in just to jump in, if you don't have a reason or indication for your position, be a smart and patient trader.
  • #52
  • Jan 4, 2007 1:38am Jan 4, 2007 1:38am
I checked www.worldmarkethours.com courtesy of Linuxtroll and it said both Eu and UK were closed and both open at the same time in 20 mins.
I am a little confused.

john
  • #53
  • Jan 4, 2007 1:40am Jan 4, 2007 1:40am
Hi Monarch, How The Gbp/usd News Trend 1:00gmt Do You Think Will Down Trend? ANY WARNING SIGN!!!!!! ANY INDICATORS MUCH BETTER TO OVER LOOK THE FORECAST OF THE GBP/USD !!!!!!!!!
IAM YOUR FANS!!!!!

Thanks

Jroc90000
  • #54
  • Jan 4, 2007 1:41am Jan 4, 2007 1:41am
Quoting jsh01
I checked www.worldmarkethours.com courtesy of Linuxtroll and it said both Eu and UK were closed and both open at the same time in 20 mins.
I am a little confused.

john
Your saying Euro and London open in 20 minutes correct,
I am saying Frankfurt which is neither, not much info for you on this though.
  • #55
  • Jan 4, 2007 1:41am Jan 4, 2007 1:41am
It's an hour later in both Geneva and Frankfurt
Trade what you see - Not what you think
  • #56
  • Jan 4, 2007 1:46am Jan 4, 2007 1:46am
Quoting jroca90000
Hi Monarch, How The Gbp/usd News Trend 1:00gmt Do You Think Will Down Trend? ANY WARNING SIGN!!!!!! ANY INDICATORS MUCH BETTER TO OVER LOOK THE FORECAST OF THE GBP/USD !!!!!!!!!
IAM YOUR FANS!!!!!

Thanks

Jroc90000
I actually see GBP at the lower part of some major channels right now, which we have been in since 12-1-06.

I would say using these Channels, several Fibo's, and some support lines I have marked, we should rise up in the channel some here today.

We have some news coming out which will decide if we stay in this profit taking channel, or completely get out and go another direction.

The EW on weekly and monthly would be a Wave 5 complete if we drop down heavy after news, but if the news supports GBP we will continue upwards on Wave 5, possibly into the 2's areas. We will research more after some news comes out.
  • #57
  • Jan 4, 2007 1:48am Jan 4, 2007 1:48am
Quoting summitfx
It's an hour later in both Geneva and Frankfurt
Could you post the times of these Opens for us in Eastern Time, it would help me tremendously. Thanks, if not, thats okay.

Glad to see you, been following your posts for ever.
  • #58
  • Jan 4, 2007 1:50am Jan 4, 2007 1:50am
I will not be answering questions for a little while, looking to pull plug on Longs if need be, I am watching the thread though.

Low was at 1.9487, a little ways back, could be a head fake upwards, then we will watch for sell position soon, let you know.
  • #59
  • Jan 4, 2007 1:54am Jan 4, 2007 1:54am
This is Fun. Thanks for sharing Monarch.
Geneva and Frankfurt open at 2 am est and the rest of EUR land opens at 3 am est and it's currently 10:56 am in Baghdad.

http://www.worldtimeserver.com/
Trade what you see - Not what you think
  • #60
  • Jan 4, 2007 1:57am Jan 4, 2007 1:57am
Quoting summitfx
This is Fun. Thanks for sharing Monarch.
Geneva and Frankfurt open at 2 am est and the rest of EUR land opens at 3 am est and it's currently 10:56 am in Baghdad.

http://www.worldtimeserver.com/
What in the world are you doing, the world traveler?
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